Genetec is making a private placement of up to 10% of its shares to raise up to RM154.8mil.
KUALA LUMPUR: Industrial automated equipment developer Genetec Technology Bhd
plans to undertake a private placement of up to 10% of its shares to raise up to RM154.8mil.
Under the maximum scenario, assuming the placement shares are valued at RM2.16 per share, the group intends to utilise RM94,000 of the proceeds for the expansion of manufacturing facilities, working capital requirements (RM57,800) and the estimated expenses in relation to the exercise (RM3,000).
“The expansion plan (is) particularly on improving and upgrading manufacturing facilities for the automated industrial systems and equipment, and provision of value-added services for customers in the electric vehicle and energy storage industries,” Genetec said in a filing with Bursa Malaysia yesterday. — Bernama
